REX American Resources Corporation (REX) Earnings
REX American Resources Corporation is expected to report next earnings on August 26, 2026 (in NaN days), with a consensus EPS estimate of $0.42. REX has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +321.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 28, 2026 | $0.14 | $0.56 | +290.2% | $156M | -6.4% |
| Mar 26, 2026 | $0.14 | $1.32 | +810.3% | $158M | -2.5% |
| Dec 4, 2025 | $0.27 | $0.71 | +167.9% | $176M | +3.9% |
| Aug 27, 2025 | $0.19 | $0.22 | +15.8% | $159M | -3.9% |
| May 28, 2025 | $0.34 | $0.51 | +50.0% | $158M | -1.7% |
| Mar 26, 2025 | $0.27 | $0.63 | +133.3% | $158M | -1.7% |
| Dec 3, 2024 | $0.72 | $1.38 | +91.7% | $175M | +13.6% |
| May 22, 2024 | $0.40 | $0.58 | +45.0% | $161M | -6.4% |
| Nov 30, 2023 | $0.69 | $1.49 | +115.9% | $221M | +15.3% |
| Aug 30, 2023 | $0.66 | $0.52 | -21.2% | $212M | +8.6% |
| May 25, 2023 | $0.08 | $0.30 | +275.0% | $213M | +5.5% |
| Mar 23, 2023 | $0.31 | $0.47 | +51.6% | $200M | -7.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Overall Financial Performance - Q1 2026 delivered the most profitable first quarter on a net income per share basis in REX American Resources' history, marking the company's 23rd consecutive profitable quarter. - The company maintains a strong balance sheet with no bank debt, ending Q1 2026 with $364.3 million in cash equivalents and short-term investments. Capital Projects Updates - The ethanol production capacity expansion at the Gibson City facility is progressing on schedule, with completion targeted for the end of 2026. - The carbon capture and sequestration (CCS) initiative continues to advance, with the company working through EPA regulatory requirements for its Class VI injection well permit application. - Total combined investment in both growth projects reached approximately $176.3 million as of the end of Q1 2026, remaining within the approved total project budget range of $220 million to $230 million. Policy and Incentive Progress - REX began recognizing Section 45Z carbon capture production tax credits in Q4 2025, recording an additional $7.5 million in credits during Q1 2026, booked at 10 cents per gallon for consolidated plants. - The Illinois state moratorium on carbon pipeline permitting is scheduled to expire on July 1, 2026; the company has maintained engagement with the Illinois Commerce Commission and plans to submit its permit application immediately after the moratorium ends. - The company continues to monitor ongoing federal policy discussions related to Section 45Z incentives. Strategic Priorities - Shareholder value creation remains the company's top priority, with a focus on leveraging domestic policy tailwinds and strong international export demand for ethanol to maximize profitability. - Management maintains disciplined capital allocation, funding all growth initiatives internally from the company's cash balance with no debt. - The company will continue evaluating additional value-creating investments that complement its existing operating platform.
Guidance
- Management reaffirmed that the Gibson City ethanol capacity expansion remains on track for completion by the end of 2026, within the current combined project budget range of $220 million to $230 million, with potential minor adjustments for inflation and market factors. - Management stated that operating conditions in Q2 2026 remain stable, and the company is confident it will deliver another consecutive profitable quarter to shareholders. - No upward or downward revisions to prior full-year financial or project guidance were provided in the call.
Segment performance
REX American Resources operates core product segments focused on ethanol and co-product sales. For Q1 2026: 1. Ethanol segment: Sales volume reached 71.1 million gallons, with an average selling price of $1.66 per gallon, compared to 70.9 million gallons and $1.76 per gallon in Q1 2025. The company recorded $7.5 million in Section 45Z production tax credits attributable to consolidated ethanol operations, reported as operating income for this segment. 2. Co-products segment: - Dried distillers grain: 155,000 tons sold at an average price of $155.86 per ton, up from $145.65 per ton in Q1 2025 - Modified distillers grain: 13,427 tons sold at an average price of $76.94 per ton - Corn oil: 23.9 million pounds sold at an average price of 54 cents per pound, up from 46 cents per pound in Q1 2025 Overall aggregate financial performance for the company: Gross profit was $29.1 million (vs. $14.3 million in Q1 2025), income before taxes and non-controlling interest was $26.1 million (vs. $13.6 million in Q1 2025), and net income attributable to REX shareholders was $18.5 million (56 cents per diluted share, vs. $8.7 million or 26 cents per diluted share in Q1 2025). Revenue contribution percentages for individual segments were not disclosed in the transcript.
Risks & headwinds
- Inflation and other unforeseen market factors could require adjustments to the total $220 million to $230 million budget for the company's two major growth projects. - Regulatory outcomes for CCS permitting (including federal EPA approval and Illinois state pipeline permitting after the moratorium expires) are outside of the company's control, creating uncertainty for the CCS project timeline and completion. - Future changes to federal carbon capture incentive policy under Section 45Z could impact the value of tax credits the company is able to claim. - Actual future project performance and financial results may differ materially from management's forward-looking expectations due to inherent risks and uncertainties associated with the business, as outlined in the company's SEC filings.